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My brother and I inherited farmland in 1986 when my father
My brother and I inherited farmland in 1986 when my father died. We had rented the farm land and are now thinking of selling it. Will we have to pay tax on the sale amount? … read more
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farm land was inherited and then sold in 2017. any tax breaks on the sale? … read more
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I sold a 160 acre farm this past year. What part of the sale
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Father died in 2006 and June 2006 the four children created a life estate for Mom. In Sep 2013 she went into a SNF gaining Medicaid Nov 2013. We decided to sell the house in 2014 and closed 12/17/2014… read more
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My grandmothers will provided that my father have a life estate
My grandmother's will provided that my father have a life estate in the family farm in Iowa and his five children with 'remainderman' status. Now 22 years later my father has passed away and farm valu… read more
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My father bought my grandfathers farm in 1972 and bought a
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Father deeded his home to 2 brothers over 5 years ago. Father
Father deeded his home to 2 brothers over 5 years ago. Father passed away in 2012. No will to probate. House sold in July 2012 for under $100,000. Old home, lived in more than 20 years. Many upgrades,… read more
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I inherited 35 acers of land through my Grandfathers trust
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My father-in-law died last year, mywife and her brothers had
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My father was an only child. He owned some land. His father
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Expert
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I live in Texas and my mother passed away in Texas. We inherited
I live in Texas and my mother passed away in Texas. We inherited land in Brunswick County. Originally the lot was listed around $130,000 or so----but we did not have an appraisal. MY Mom died 9-2005 a… read more
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Brothers and sisters have been gifted a farm from their parents.
Brothers and sisters have been gifted a farm from their parents. They have since sold timber from it. $50,000 to be divided among 4 of them and giving their parents $10,000 of this. Parents have ss an… read more
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We just sold a piece of farm property for a good price, $400,000.
We just sold a piece of farm property for a good price, $400,000. We live and our residence is in St. Paul is worth $300,000.. Can the farm property be used for that one time capital gains exemption… read more
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I have a partnership that sold some timber in September ...
I have a partnership that sold some timber in September 2007. The partnership is made up of three sisters. Their father donated part of this land to them, with all rights to the timber, several years … read more
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If my sister and I were to sell farm land that became ours ...
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Hi- My brother and I are joint owners of rural property ...
Hi- My brother and I are joint owners of rural property zoned agricultural, which we acquired by Quitclaim Deed from our father in 1999. My father inherited the land in the late 70's. The land is curr… read more
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